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Can You Handle a Used Car Purchase?

Can You Handle a Used Car Purchase?

If you've decided to buy a used car to save
some cash - take a look at some of the considerations you should keep in
mind before jumping right in!

Buying a car is an exciting step and for many reasons people opt to
buy used cars instead of new. The benefits of this option are many: you
get to buy a car at a cheaper rate and you do not have to suffer the
initial 30% depreciation hit borne by buyers of new cars who intend to
sell for starters.

But buying older cars
is not for everyone as with any decision there comes risk and
complications that may arise. Are you ready to deal with them? We list
for you the peculiarities of a secondhand car purchase that will do you
well to consider.

You Need to Have the Resources On Hand for Fixes

Used cars have histories and more often than not - no matter how
careful you were when purchasing - problems may arise with your car that
will require a mechanic and some additional cost.

These fixes do not necessarily mean that your seller or used car
dealer tricked you. It is the reality with any used item that the
possibility of some damage or breakage may go undetected until further
use brings it to the fore.

As a simple example, think about the selling of a secondhand lamp -
the likelihood of you having to change the bulb sooner as compared to
buying brand new is higher. The analogy applies across the board with
secondhand items.

Even after a thorough check, be ready to find small problems within
the first three months of using an older car. This however, should not
deter you. If you've done the right checks before hand - the damages
should be nominal and nothing altogether too unusual when dealing with
automobiles.

It Will Be Advisable to Know a Little About Cars

Choosing the right secondhand car also entails a little car know-how.
This means either researching or talking to people who are well-versed
with the different cars and their hang-ups.
There are three good reasons for you to have this knowledge:

1) Used cars often have flaws and defects that can
be noticed by a quick look under the hood or paying attention to sounds
and bumps during a test drive. Few people know how to gauge this and
often rely on the mandatory questions of whether or not a car has been
in an accident to decipher the condition of a car. But the best
information is communicated not by the seller or dealer but by the car
itself. Knowing cars to a certain extent will help you decide if the
deal you are being offered is a lemon or not.

2) For price negotiation. Most cars have market
values, which you can easily find online but there are subtle
differences in price based on year of manufacture vs registration and
overall condition of the car. The only way you will be able to negotiate
a good price for your used car is if you know enough about the
particular model and it's issues.

3) Manufacturing defects or recalls. Some models of
cars have had recalls or announcements about defective parts that call
on owners to replace these parts or have the car given the once over by
the manufacturer. If the previous owner did not do this or if your car
has been sitting in a salesman's yard during this announcement - it may
have slipped the round-up. Though some of these flaws are merely
annoying inconveniences; some can be life threatening such as in the
case of faulty breaks. Scan the news for any previous notices on recalls
by the particular manufacturer. Though this isn't a common problem -
it's always better to be safe than sorry.

Be Ready to Bargain

It is usually not advisable to take a secondhand car on the price
offered by the seller. Most dealers and private individuals open with
their ideal price but that isn't necessarily what the car is worth. It's
always important to do price point research and get ready to negotiate
with the seller.

Sometimes, those who are desperate to sell will price a car at
rock-bottom but such genuine deals are few. If a seller is desperate to
sell; it's equally important to find out why. If it is due to a defect
on the car, it pays to know about this and negotiate further if you are
still interested!

Secondhand car dealers need to make a profit and private individuals
often do not have the know-how to fairly price their used cars. It does
not always follow that a high price is a sign of a cheat. This merely
puts the onus on the buyer to negotiate or walk away!

It's Still Great to Buy Used

Despite the issues above - buying a used car can be an extremely
rewarding endevour. The price of a used car can't be beat and if you get
the right one; the value is much more than buying new.
Though there is a little more hassle involved when choosing a
secondhand car; it is an option that makes sense on many fronts for
those who want a good car but cannot afford the inflated brand new
price.

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If a car is being bought from a private seller, then the paperwork has to be done by the buyer.
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…